Sacramento County Prices Rally for Second Month in a Row
The real estate market in Sacramento has slowed considerably from last year, but the Bubblers* took it on the chin in March when both the median and average sale prices increased for the second straight month. When prices increased in February, naysayers blamed the phenomenon on a picturesque “dead cat bounce”. Presumably the cat has now gotten up and walked away under his own power. (The least trustworthy dead animal metaphors are those where the animal in question already has a rich metaphorical reputation of being blessed with multiple lives).
The average price increased by .28% from February to March, but taking the Bubblers at their word that the median is the more statistically important number, we come up with a more substantial 1.25% increase.
Yes, the rate of increase is slow. Hang in their, Bubblers. By August at the latest you should be able to claim your first year to year decrease. Meantime I’m enjoying the heck out of the title of this post.
_________________
* As used here, “bubbler” denotes a person dedicated to finding a bubble-like structure in the real estate market, as opposed to it’s more traditional meaning of being Rhode-Islandese for water fountain.
